XRP Whales Have Continued To Expand Their Holdings Recently
According to data from the on-chain analytics firm , the largest of the XRP investors have been buying in recent days. The relevant indicator here is the “Supply Distribution,” which tells us about the total amount of the asset that each holder group in the market is carrying in their combined wallets right now.
The addresses or investors are divided into these groups based on the total number of coins that they are currently holding. The 10-100 coins cohort, for instance, includes all holders who own at least 10 and at most 100 XRP.This means that the members of both these groups are the whale entities, with the latter cohort naturally carrying the largest of holders even among these humongous investors.
Now, here is a chart that shows the trend in the XRP Supply Distribution for both of these whale groups over the last few months:Looks like both these metrics have observed growth in recent days | Source:As displayed in the above graph, the XRP Supply Distribution for the smaller of the two cohorts (that is, the 10 million to 100 million coins group) has been rising for a while now. This means that these whales have only continued to buy more as the asset’s price has observed an extended drawdown.
This behavior hasn’t changed with the latest sharp plunge in the cryptocurrency, either, as the metric has now risen toward the 5.1 billion mark.
XRP Price
At the time of writing, XRP is trading around $0.52, down 17% in the last week.XRP has fallen hard recently | Source: